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Sales management
- 2. Recruitment and Selection Process • Forecast People • Job Analysis • Job Description • Job Qualification • Recruitment • Communication
- 3. Definition • Process – Formulation of Sales Strategy – Implementation – Sales Force Management
- 4. Recruitment and Selection Process • Number • Job Description • Sources • Application form • Interviewing • Offer
- 5. Forecast People • Plans • Current Strength • Promotions n Transfers • Quits n Retirements
- 6. Job Analysis • Duties and Responsibilities • Activities • Behaviour of Sales Person
- 7. Preparation of Job Description • Product/Service Nature • Customer Type • Frequency to contact • Duties and Responsibilities • Reporting Pattern • Intellectual and Physical Demands • Location and area • Compensation
- 8. Job Qualification Skills needed to perform a particular job Job Qualification for Sales Person (MAASHEEPI) – Memory – Alertness – Achievement Oriented – Self Confidence – Hard Working – Energy Level - High – Emotional Maturity – Perseverance – Intelligence
- 9. Recruitment • Number – Need – Positions/(% Application Selected * % accepted) – Eg, 2 / (0.1 * 0.8) = 25 • By whom? • Sources – Inside – Recruitment Agencies – Competitors – Educational Institutes
- 10. Communication • Press – National – Regional • Trade Journals • Agencies • Radio • Educational Institutes/Universities
- 11. Application Form • Personal – Name – Age – Address – Gender – Marital Status – Date of Birth • Educational – School – Higher Education – Qualification – Specialized Training – Membership of Professional Bodies • Employment History – Companies – Dates and Duration – Position & Responsibilities • Interests and Other Activities – Sports – Hobies – Membership of Clubs
- 12. Interview • Tests – Personality – Intelligence – Ability – Aptitude – Emotional Intelligence • Interview – Probes – Silence – Neutral Questions
- 13. Types of Interviews • Structured • Semi-Structured • Group • Panel • Stress • Field
- 14. Job Offer • Formal Letter • Deadline acceptance • Salary Description • Additional Facilities Description • Training Schedule / Probation Period • Performance Review Timeline
- 15. Maslow’s Hierarchy of Needs
- 16. Herzberg’s Dual Factor Theory
- 17. Vroom’s Expectancy Theory Effort • Increased call rate, longer working days Performance • Increased Sales, increase in no of active accounts, higher sales call ratio Reward • Higher Pay, sense of accomplishment, respect, promotion Value of Reward Expectancy Instrumentality Valence
- 18. Expectancy – Instrumentality - Valence • Expectancy – A person’s Perceived relationship between Effort and Performance • Instrumentality – A person’s Perceived relationship between Performance and Reward • Valence – Value placed upon a reward by a person
- 20. A Salesperson can feel inequity • Monetary rewards • Workload • Promotion • Degree of recognition • Supervisory behaviour • Targets • Tasks
- 21. Motivation • Monetary Incentives • Quota • Meetings • Contests • Employee Promotion
- 22. Training • Performance Improvement – Definite – Fast • Increased Output per Employee • Reduced Recruitment and Selection Cost • Improved Customer Relationship
- 23. Definition (SACK) The effort an employer puts forth to provide salespeople job-related • Skills • Attitudes • Culture • Knowledge that should result in improved performance in the selling environments
- 24. Why Train? • Decreased Sales – Increase • Customer Relationship Enhancement • Reduce Cost • Morale Boosting • Time and Effort Efficiency • New Sales Personnel • Knowledge • Feedback
- 25. Training Program (PACTMANS) • Aim Where to reach • Needs What is missing • Contents What to add • Method How • Trainer Who • Schedule When • Place Where • Aids Using what material
- 26. 2. Training Needs • Job Specifications • Trainees’ background and experience • Marketing Policies related to Sales • Continuing Training Needs Identification • Performance Measure • Sales Volume • Objectives of Organization • Observation of Skills
- 27. 3. Training Content • Product Details – Application – Drawbacks – Competitors – Substitutes • Sales Techniques • Market Segments – Demographical – Geographical – Psychological • Company Details – History – Unions – Competitors – Image – Policies – Compensation
- 28. 4. Methods (LCD COCRG) 1. Lecture 2. Case Study 3. Demonstration 4. Conferences 5. On the Job Training 6. Correspondence Courses 7. Role Playing 8. Group Discussions
- 29. 5. Trainer – Who? • Top Sales Executive • Managers – Assistant Sales Manager – District Sales Manager • Directors – Personnel Director – Sales Training Director • Outside Experts
- 30. Evaluation • Performance Against Standards • Before and After • Written Test • Rating on Role Playing • On the job observation
- 31. Key to Successful Selling • Ask • Share Product Information • Compare • Show Evidence • Acknowledge Customer’s Viewpoint • Comfort Customer
- 32. Knowledge Product 1. Product Development History 2. Product Performance 3. Maintenance and Service Contracts 4. Price 5. Delivery 6. Quality 7. Cost-Benefit Analysis Competition 1. Attitude towards Competition 2. SWOT
- 33. Knowledge Company 1. Culture 2. Structure 3. Support for Product 4. Image 5. SWOT Customer 1. Behavior 2. Response 3. Interest
- 34. Buyer’s Behavior • Needs • Motives – Rational • Quality • Price • Design – Emotional • Brand Preference • Social factors • Cultural factors • Personal factors
- 35. Buyer’s Decision Making Process • Need Recognition • Information Search • Evaluation of Alternatives • Purchase Decision • Post Purchase Behavior – Satisfaction – Dissatisfaction
- 36. Personal Selling Process 1. Opening 2. Need/Problem Identification 3. Presentation/Demonstration 4. Dealing with Objectives 5. Negotiations 6. Closing 7. Follow Up
- 37. Presentation/Demonstration • Objectives – Aware – Persuade – Remind
- 38. Important Points for Demonstration • Customize • Balance Verbal and Visual • One Idea at a time • Need to Desire to buy Conversion • Purchasing Benefits – display • Involve prospect • Ask to check understanding • Summarize imp points • Re-emphasize purchase benefits • Ask for Order/Further communication
- 39. QUOTAS Types (PEAS C) • Profit – Gross Sales – COGS – Net Sales – (COGS + Direct Expenses) • Expense eg, 4% of sales • Activity No of activities to be done • Sales Volume eg, 1000 units in a month • Combination
- 40. How Quotas are Set • Forecast • Forecast and Potential • Past Experience • Judgment • Compensation equivalent
- 41. Administer Quota System • Set Quota - Accurate, Fair & Attainable • Acceptance by Salesperson • Control
- 42. Purposes of Compensation • Connect individual with Organisation • Influence work behavior • Organisational choice • Influence satisfaction. • Feedback on performance • Reinforcement
- 43. Sales Force Compensation Pay dissatisfaction may lead to 1. Poor performance 2. Absenteeism 3. Grievances 4. Job dissatisfaction 5. Increased Atteration 6. Psychological withdrawal 7. Stress anxiety 8. Poor mental health
- 44. Compensation Types • Straight Salary Advantages – Sense of Security – Simple to administer – Projection of Compensation Expense is possible Disadvantages – Lacks Motivation – Fixed Expense, Cannot reduce in bad times When to use? – More like delivery – Pre-sales and post-sales services major part – Team oriented Sales efforts
- 45. Compensation Types • Straight Commission Types – Amount per sales – %age of Sales amount – Level Changing amount Advantages – Motivation – Sense of Achievement – Selling cost in proportion to sales Disadvantages – Uncertainty of Sales – Salesperson pressurize customer for sales – Reluctances in transfers When to use? – Low Expense affordability – High Convincing Job
- 46. Compensation Types • Combination Design – Able to live on Salary alone – Top performer: 25%-50% of salary – Commission (as per sales) or Bonus (as per sales and time) – Set lower and upper Limit – Consider profitability
- 47. CRM Cycle • Customer Need and Acquisition • Customer Development through Personalization and Customization • Customer Equity through cross selling and up selling